China’s youth jobless rate inched down in May but remained at a higher point than last year, as the war in Iran weighed on domestic business confidence and an already soft job market.
In addition to disrupting shipping lanes, the war pushed commodity prices higher globally.
Chinese companies have been feeling the strain, with producer inflation hitting a nearly four-year high in May. The external pressures are further depressing a weak labour market, where a generation of young college graduates is already struggling to find work.
Pallave Ji, who graduated with a degree in cultural-industry management last year, quit her job at a major Chinese technology company in April after becoming overwhelmed by workplace conflicts and a stressful environment, she said.
She is now casting a wide net across various industries in the Beijing, Tianjin and Hebei regions. But despite her corporate experience, she has found securing a new role even more difficult than during her initial job search as a fresh graduate last year.